Market Analysis

The euro is edging down in relation to the US dollar

FOREX

The euro is edging down in relation to the US dollar during the early part of Friday’s session, after reaching an October maximum on Thursday. Despite a lack of substantial news, with the ECB leaving interest rates and asset purchases unchanged, the euro found support as the bank’s governor, Christine Lagarde, offered an evolved assessment on inflation, admitting that consumer prices could remain elevated for longer than previously expected. This more nuanced view was interpreted by the markets as a sign that the European Central Bank will bring forward the timing for tightening policies, with the euro gaining ground on other currencies as traders priced-in the new scenario.

Ricardo Evangelista – Senior Analyst, ActivTrades

Source: ActivTrader

 

OIL
WTI crude oil prices are falling back during early Friday trading, looking set to close the week in the red for the first time since August. After reaching a multi-year high on Monday, the price of the barrel started to come down in what may be a sign that the rally of the last few months may be approaching its peak, following a similar drop in gas and coal prices.

Ricardo Evangelista – Senior Analyst, ActivTrades

Source: ActivTrader

 

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